Alphabet Inc. (NASDAQ:GOOG) Shares Bought by RNC Capital Management LLC

RNC Capital Management LLC raised its position in Alphabet Inc. (NASDAQ:GOOG) by 7.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 80,687 shares of the information services provider’s stock after acquiring an additional 5,570 shares during the period. RNC Capital Management LLC’s holdings in Alphabet were worth $15,366,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Tandem Financial LLC purchased a new position in Alphabet during the fourth quarter worth about $603,000. Strategic Financial Concepts LLC increased its position in Alphabet by 18,770.1% during the 4th quarter. Strategic Financial Concepts LLC now owns 1,164,095 shares of the information services provider’s stock worth $221,690,000 after purchasing an additional 1,157,926 shares during the period. Leo Wealth LLC raised its stake in shares of Alphabet by 35.6% during the 4th quarter. Leo Wealth LLC now owns 30,135 shares of the information services provider’s stock worth $5,739,000 after buying an additional 7,918 shares in the last quarter. Encompass Wealth Advisors LLC lifted its holdings in shares of Alphabet by 9.5% in the 4th quarter. Encompass Wealth Advisors LLC now owns 4,669 shares of the information services provider’s stock valued at $889,000 after buying an additional 407 shares during the period. Finally, Consolidated Portfolio Review Corp boosted its stake in shares of Alphabet by 51.1% in the fourth quarter. Consolidated Portfolio Review Corp now owns 12,214 shares of the information services provider’s stock valued at $2,326,000 after buying an additional 4,132 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the sale, the director now directly owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the transaction, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,529 shares of company stock worth $16,600,078 over the last quarter. 12.99% of the stock is currently owned by insiders.

Analyst Ratings Changes

GOOG has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their price objective on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Wedbush reiterated an “outperform” rating and issued a $220.00 price objective on shares of Alphabet in a research note on Thursday, January 30th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. UBS Group increased their target price on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Alphabet Trading Up 0.6 %

Alphabet stock opened at $188.20 on Tuesday. The stock has a 50-day moving average price of $193.12 and a 200 day moving average price of $176.14. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $208.70. The stock has a market cap of $2.30 trillion, a PE ratio of 23.38, a P/E/G ratio of 1.39 and a beta of 1.00. The company has a current ratio of 1.84, a quick ratio of 1.95 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

Alphabet Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.